KiwiSaver & Saving

The education sector union NZEI TE Riu Roa is calling on the government to come clean about how increased employer contributions to Kiwisaver and other retirement schemes will be funded for the education sector.

The Government has dumped the cost of health workers' Kiwisaver schemes on to District Health Boards, putting further pressure on budgets that are not keeping up with inflation and an ageing population, says Labour's Health spokesperson Grant Robertson.

The first nationwide post- Budget HorizonPoll shows the Government would not get a mandate to make changes to KiwiSaver, sell up to 49% of state-owned energy company shares or reduce its shareholding in Air New Zealand.

Finance Minister Bill English leaves on 23 May for Singapore and Hong Kong, where he will speak to business, investment and political leaders about New Zealand's progress in building faster growth and higher national savings.

Secondary schools will have less to spend on each student next year said Post Primary Teachers Association president Robin Duff.
"The Budget does not compensate for inflation in schools' operations grant funding," he said.

Today's New Zealand Budget revealed continued baby steps towards a more sustainable retirement income system for New Zealand, and although it missed the opportunity to significantly improve our retirement savings environment, it provided positive steps in terms of managing the increasing economic

"The combined impact of the Christchurch rebuild, high commodity prices and the proposed sell down of a minority stake in certain SOEs have provided the New Zealand Government with the leverage to get the country back to surplus a year earlier than expected," says PwC Chairman John Shewan.

"Buckle up and get ready. The lack of bold ideas in this budget will be the big election issue in every town across Rangitikei in 2011," says Labour candidate for Rangitikei, Josie Pagani. Families in Rangitikei struggling to make ends meets have been hit hardest in this budget.